Florida State Laws- Personal Lines

Office of Financial Regulation (OFR), which is responsible for

Regulating the following: □ Banks, credit unions, savings association, international bank agencies □ Financial service companies □ Securities industry Includes the Bureau of Financial Investigations: □ Functions as a criminal justice agency □ Conducts investigations to protect consumers from financial entities that violate state laws and rules

Chief Financial Officer (CFO)

The Chief Financial Officer (CFO) is an elected official and is the head of the Department of Financial Services (DFS). The CFO directly oversees the following divisions under the DFS: Division of Accounting and Auditing Division of Consumer Services Division of Insurance Agent and Agency Services Division of Public Assistance/Insurance Fraud Office of Consumer Advocate for Insurance Division of Unclaimed Property The CFO, as the head of the Department, is directly responsible for the regulation of insurance agents. The CFO is a member of the Financial Services Commission, also known as the Governor's Cabinet.

Financial Services Commission

The Financial Services Commission is composed of the Governor, CFO, Attorney General, and Commissioner of Agriculture. It appoints the Commissioner of the Office of Insurance Regulation (OIR), which is responsible for: Regulating the following areas of insurance industry: □ Licensing □ Rates □ Policy forms □ Market conduct □ Claims □ Certificates of Authority Protecting the public through oversight of insurance company solvency Maintaining expertise related to life and health, property and casualty, specialty lines, and other insurance entities The Commission also appoints the Director of the Office of Financial Regulation (OFR),